Navi Title Agency
Cave Creek, AZ 85331
Single-Family Homes
Here is your weekly Market Update!
Cave Creek, AZ 85331
Thu Sep 21 2023
This week the median list price for Cave Creek, AZ 85331 is $1,050,000 with the market action index hovering around 42. This is an increase over last month's market action index of 39. Inventory has increased to 93.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.
Real-Time Market Profile
| Median List Price | $1,050,000 | |
| Median Price of New Listings | $987,500 | |
| Per Square Foot | $407 | |
| Average Days on Market | 106 | |
| Median Days on Market | 56 | |
| Price Decreased | 43% | |
| Price Increased | 2% | |
| Relisted | 8% | |
| Inventory | 93 | |
| Median Rent | ||
| Market Action | 42 | |
| Slight Seller's Advantage | ||
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,000,000 | 4,025 | 1 - 2.5 acres | 4 | 5 | 16 | 2 | 4 | 98 |
| $1,385,000 | 3,016 | 1 - 2.5 acres | 4 | 3 | 21 | 4 | 1 | 35 |
| $934,000 | 2,292 | 0.25 - 0.5 acre | 3 | 3 | 21 | 5 | 2 | 84 |
| $732,000 | 2,199 | 6,500 - 8,000 sqft | 3 | 2.5 | 25 | 3 | 5 | 38 |